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 It depends on your individual circumstances, such as if you are an expat or local, which I will elaborate on below.

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In terms of what you should be invested in, just like everywhere else, focus on having 2–3 indexes including a bond index, and hold them long-term.

People often need an advisory to help with emotional support as much as technical knowledge.

We have seen this during 2020 when countless people panicked during the stock market crash.

There are numerous reason for this but the most important one is that the academic evidence suggests this is easily the best strategy for most investors long-term.

The question is, which investment platform should you use, and where should it be based – inside Canada or outside?

Most DIY and advisor-lead platforms are available for Canadian-residents. Only DIY if you have done enough research though.

I would also make a distinction between being an expat living in Canada and a Canadian.

If you are a Canadian, who plans to never live overseas, then you don’t need to worry about things like the portability of an investment platform.

In comparison, if you are an expat living in Canada, or a Canadian living overseas, most local Canadian options aren’t very portable if you live overseas.

This can result in accounts being frozen if you leave the country, or at best sometimes you can just keep the accounts open but you can’t add extra money to them, and unexpected tax burdens if you are forced to liquidate them.

So for expats and Canadian looking for move overseas, often it is best to have an account which is outside of Canada for this very reason.

So it is important to make a distinction between “in Canada” and if you are “from Canada”.

Just like for Brits and other nationalities, it doesn’t always make sense to keep money locally if you plan to live overseas.

As a final comment, never fear “is now the right time to invest due to X or Y event”.

At a recent client event, the Shark Tank (and previously Dragons Den) star Kevin O’Leary admitted that he had tried and failed to time the markets.

If somebody worth an estimated $400million can’t do it, then very few people (if any) can.

It is better to just invest now and forget about it, and actually take action, as opposed to setting New Years Resolutions and not doing anything about it.

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